DAILY: Decline in China's rebar prices slows, sales recover

China's rebar market showed signs of stabilizing on August 4, with the decline in both spot and futures rebar prices narrowing. Spot trading activity for construction steel products on the same day rebounded above 90,000 tonnes/day after hovering below this level for two weeks.

On Tuesday, Mysteel assessed the national average price of HRB400E 20mm dia rebar at Yuan 3,213/tonne ($476/t), down by a smaller Yuan 3/t on day. Spot rebar prices showed mixed trends across regional markets yesterday. For example, prices in East China's Hangzhou rebounded by Yuan 10/t, while markets in cities like Xi'an in